Business Returns

Business is conducted in various ways and through numerous forms of organization. Just as your tax filing requirements may be dictated by the nature of your industry, the form of organization under which your busines operates bears significantly on the types of and manner in which you keep your records, the tax laws applicable to you, and even the forms on which you file your tax return.

The tax landscape is an ever-changing canvas. New tax laws are passed while existing laws can be repealed or expire from further application. This constant rate of change requires a dedicated effort to stay abreast of current developments. Fortunately, the tax advisors at Tax Muscle not only study legislative changes and assess their potential impact on our clients, but distill the oftentimes complex subject matter into a simplified form, making it far easier for our clients to understand.

Assessing Compliance Risk

Depending on the nature of your operations, your business may be subject to one or more of the following taxes:

• Federal Income Taxes
• State Income Taxes
• Franchise Taxes
• Sales Taxes
• Payroll Taxes
• Excise Taxes
• Property Taxes

With such broad potential for exposure, the compliance effort can quickly become overburdening. Tax Muscle can relieve your burden by completing a compliance assessment and preparing all necessary filings to bring you into full compliance.

Strategic Tax Planning

In the words of renowned Judge Learned Hand in Gregory v. Helvering, 69 F.2d 809, 810 (2d Cir. 1934), “Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes.” While applying this logic is desirable, it is not always forthright. Effective tax planning involves taking a holistic assessment of a business’s affairs and structuring those affairs to produce the minimum tax liability. Tax Muscle will develop a strategic tax plan factoring in your current and prospective activities and utilizing all applicable tax-saving features in the U.S. Tax Code to reduce your tax liability – both for the current and future tax years.